All Forum Posts by: Khari F.

@Jon Schwartz I just wanted an understanding on "continuous". My assumption is you can only have one primary residence during this fha year and if you decide to sleep on the couch in your primary residence or at a friend for a few months in that year its ok and im free to rent out my unit during that time. I guess it's a gray area which is why I dont see that mentioned anywhere on BP. 

ridgewood and bedstuy would be best bet just as far as event/culture trends (where young ppl want to live). ppl moving to bedstuy dont mind the grungy and still borders bushwick. bedstuy willl prob have most growth as far as minority owned small businesses. trains, gyms close by. also wyckoff hospital is buying mfh nearby and using them as offices. it's possible a larger hospital network like lij/northwell health will buy them and expand so you may have a rental property to sell to them. lol. dont be suprised if new mayor proposes some new train or fast rail line like the L train on outskirts of bk\queens. your prop value will skyrocket in 10 years if you bet on that. I say bet on the long game of appreciation in these area. cash flow is for you, appreciation is your kids. 

Hi

when evaluating a property how do you determine when capex will be approaching so you can better allocated funds to your reserves? I assume you dont wait till it goes bad and preemptively plan a rough due date and use those funds accordingly. are their any tax benefits to holding reserves for capex in primary residence?

How do you best calculate ARV conservatively using comps?

What are some good online resources to research recent purchase price of properties for comp? Is there a tool that can compare difference in sales prices of properties within neighborhood based on their amenities or lack of? I figure that would be best way to calibrate costs of value-add - i.e if prop w these features sold for x amount more than prop without with these features > how can I add those features for a cost less than the difference?

Thanks. for a house hack on a duplex for an example where Im renting one unit, after 183 days I can begin rent out my unit?

Hello 

What qualifies as primary residence per fha requirements? Mailing address? Percentage of time spent there?

To give yourself more time, try to get your new property under contract before your old property closes. You just have to close the sale before closing the purchase. 

when you call them up ask speak to someone who deals with portfolio loans.

Awesome keep us posted